Common use of Determination Clause in Contracts

Determination. Any determination as to whether an Exercise Notice is duly completed and in proper form shall be made by the Programme Agent in its sole and absolute discretion and shall be conclusive and binding on the relevant Issuer, the Guarantor(s), the Programme Agent, the Calculation Agent and the Holder. Any Exercise Notice so determined to be incomplete or not in proper form shall be void. If such Exercise Notice is subsequently corrected to the satisfaction of the Programme Agent, it shall be deemed to be a new Exercise Notice submitted at the time the correction is delivered. The Programme Agent will endeavour to notify the Holder of an Exercise Notice which is incomplete or not in proper form as soon as possible after it becomes aware of the improper exercise.